Failing on the break….
- gregmikefx
- October 14th, 2009
The EURUSD triggered stops above the 1.4932 level moving to a high of 1.4946, but could not sustain the upside. The move back below 1.4932 is a disappointment and we are seeing it in the price action (down to 1.4910 level). Resistance back in play from 1.4920 to 1.4932. Support at 1.4897 now.
The GBPUSD also is back down after moving to a new move high of 1.5999. The price has moved back down to the 100 bar MA support at 1.5972. Watch this level A move below would not be good for the pair.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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Lydia Idem has been investing in equities for 16 years and trading currencies actively for 5 and a half years. Her trading style is simple and short term. With a special feel for sterling, Lydia trades almost exclusively the GBPUSD and EURGBP. You can follow Lydia on Twitter and StockTwits... (more) -
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